Jersey investors better protected by ombudsman than Guernsey
Retail investors in Guernsey do not have the same right to redress as their Jersey counterparts, Channel Islands ombudsman Douglas Melville has confirmed.
Tax & Regulation
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Ireland urged to cut high tax rates to boost competitiveness
Ireland should slash personal tax rates in a bid to create jobs and take advantage of Brexit, according to a new report by accountancy and consulting firm EY.
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Jersey opens tax disclosure amnesty
Jersey is running a voluntary disclosure scheme giving islanders the opportunity to tell the taxman if they have made a mistake or failed to declare income without having to pay extra penalties, ahead of tougher sanctions that may be brought in next year.
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Spain bemused by UK’s ‘war talk’ in Brexit row over Gibraltar
Spain has accused UK government officials of “losing their cool” in a row with the European Union over the future of Gibraltar post-Brexit.
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SA finance minister’s sacking will not halt expat tax plans
The sacking of South Africa’s finance minister will not stop legislation to tax some expats on their foreign income from being introduced, the founder of the South African Expats Tax Petition Group has said.
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UK wealth managers refused FCA opt out from Mifid ‘taping’ rule
New rules to force UK wealth managers to tape telephone calls with clients will not apply to smaller advisory firms, the FCA revealed on Friday.
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Canada Revenue Agency warns tax protesters after arrests
The Canada Revenue Agency (CRA) has issued a warning to residents using tax protester schemes to argue that they don’t need to pay tax after it executed three search warrants with the Royal Canadian Mounted Police.
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Dutch gov’t launches international crackdown on tax evaders
The Dutch government has launched a series of raids across Europe and in Australia as part of a crackdown on suspected money launderers and tax evaders, and the bank employees who may have helped them.
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Returning expats ‘hardest hit’ by non-dom reforms
Thousands of British expats face significant bills if they return to the UK after new non-dom tax rules come into force next week.
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FCA fines ex-investment banker over Whatsapp boasts
A former investment banker has been fined more than £37,000 ($45,965, €42,610) by the FCA after he admitted trying to impress friends by revealing confidential client details in Whatsapp chats.
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Wife and mistress must split pension rules Brazil court
The pension benefits of a Brazilian man who died in 2015 should be equally split between his wife and a woman with whom he had a 20-year relationships during his marriage, a court has ruled.
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HMRC fails to clamp down on tax evasion as avoidance plummets
The UK tax office is still losing £11.4bn (€13.1bn, $14.1bn) of revenue every year to evasion despite introducing a host of measures aimed at tackling tax avoidance, according to research by consulting firm RSM.